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236 Lindenwood Avenue 
Melissa, TX
75454
4 Beds 3 Baths 2,234 sqft
Built 2018
INVESTimate
$310,000
List Price
$87,900
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PROPERTY INFO
FACTS
- Built In 2018
- Price/Sqft : $138.76
- 3 Days on Market
- MLS # : 14419621
- Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,234 sqft
- Baths : 3 full
Listing Agent
Century 21 Judge Fite Co.
Listing Agent's Description
Beautiful, like new, 4 bedroom, 3 bath home built by History Maker Homes. Home backs up to tree shelter and walking paths; immaculate home offers open concept with lots of light and great floor plan; granite island and counter tops in kitchen, whirlpool appliances, all LED lighting throughout; custom light fixtures; master bedroom and guest bedroom each offer an en-suite bath downstairs; 2 guest beds and bath upstairs; hardwood laminate, ceramic tile, and carpet throughout; Smart Home capabilities, security system available; splash pad, playground, and gazebo in common areas; no pets have ever been in home; some furniture and Viking refrigerator negotiable.
SEE MORE
- . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
- # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
- Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
- Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
- Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
- Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
PRICE & RENT TRENDS
Zip Code: 75454
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75454
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
Sorry, we do not have sufficient school data for this neighborhood.
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,144 |
| Property Tax | -$629 | |
| Property Insurance | -$156 | |
| HOA | -$29 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$103
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$310,000
PROJECTED PRICE
$2,160
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.23% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,900
LOAN DETAILS
$1,144
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $77,500 |
| Loan Amount | $232,500 |
6.25
YEARS SAVED
$26,338
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,145
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
236 Lindenwood Avenue Melissa, TX 4
- 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $2,160
- $0.97
-
2109 Auburndale Avenue Melissa, TX 1
- 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019
LEASED 03/22/20- Rent
- Rent Per SQFT
- $1,975
- $0.93
-
2109 Euclid Avenue Melissa, TX 2
- 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2019
LEASED 05/03/20- Rent
- Rent Per SQFT
- $1,998
- $0.94
-
210 Lindenwood Avenue Melissa, TX 3
- 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2020
LEASED 07/22/20- Rent
- Rent Per SQFT
- $2,095
- $0.99
-
2105 Laurel Street Melissa, TX 5
- 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018
LEASED 07/15/20- Rent
- Rent Per SQFT
- $2,200
- $0.98
PROPERTY LISTING DETAILS
Century 21 Judge Fite Co.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14419621
Last Updated: 08/25/2020
